-- US crude stockpiles rose by 1.9 million barrels to 465.7 mmbbls in the week ended April 17, the Energy Information Administration said in its weekly report on Wednesday.
Crude inventories are now about 3% above the five-year average for this time of year, the EIA said.
Procter & Gamble (PG) reported stronger-than-expected fiscal third-quarter results on Friday, while the consumer goods giant reiterated its full-year outlook.The maker of Crest toothpaste and Pampers diapers posted adjusted earnings of $1.59 a share for the quarter ended March, up from $1.54 the year before, topping the FactSet-polled consensus for $1.56. Sales rose 7% to $21.24 billion, ahead of the Street's view for $20.53 billion.The stock increased 3% in the most recent premarket activity."We delivered a solid acceleration in top-line results in our fiscal third quarter, with broad-based growth across product categories and regions," Chief Executive Shailesh Jejurikar said in a statement. "We're increasing investments to accelerate momentum with consumers despite the challenging geopolitical and economic environment, while still maintaining our guidance ranges for the fiscal year."Procter & Gamble continues to project adjusted EPS to be in a range of $6.83 to $7.09 for fiscal 2026, while the Street is looking for $6.93. It also maintained its full-year sales growth guidance of 1% to 5% and organic revenue forecast of in line to up 4% year over year.On a net basis, per-share earnings are still pegged to grow by 1% to 6% for the ongoing fiscal year.Procter & Gamble recorded overall gains of 1% in price in the third quarter, while volume advanced 2%. Foreign exchange was a tailwind of 4% to the topline. On an organic basis, which excludes foreign-exchange impact, sales were up 3% while volume inclined 2%.Sales in the fabric and homecare, grooming and healthcare segments rose 7% each on an annual basis in the quarter. The beauty segment recorded an 11% jump in revenue to $3.87 billion, while sales in the baby, feminine and family care business moved 6% higher to $5.06 billion.Core gross margin declined by 100 basis points versus the prior-year period, amid unfavorable mix, reinvestments and higher costs from tariffs, among other factors, the company said."We continue to believe the best path to sustainable, balanced growth is by strengthening execution of our integrated growth strategy," according to Jejurikar. "We are confident in the progress we're making and excited about the longer-term opportunity."
Canadian retail sales increased 0.7% month over month to $72.1 billion in February as sales were up in seven of nine subsectors, led by increases at motor vehicle and parts dealers, said the country's statistical agency on Friday.February's retail sales were a tad lower than the 0.9% month-over-month consensus increase provided by MUFG.Statistics Canada also provided an advance estimate of retail sales on Friday, suggesting sales increased 0.6% month over month in March. This unofficial estimate was calculated based on responses received from 62.7% of companies surveyed. The average final response rate for the survey over the previous 12 months was 88.5%.On the February data, StatsCan noted core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, were up 0.6% month over month. In volume terms, retail sales increased 0.3% month over month.
Questor Technology (QST.V) won $1.9 million to complete development and launch commercialization of its 1500-kilowatt Rankine Cycle (ORC) Heat-to-Power Generation System from National Research Council of Canada (NRC), it said Friday.Its 1500kW ORC converts both high- and low-temperature waste heat into dispatchable electricity that can be consumed on-site or exported to the grid, and is engineered as the natural companion to the company's Q-Series Thermal Oxidizers, the company said.Questor expects to complete testing of the 1500kW prototype in the second quarter of 2026, with commercial rollout to follow later this year.Shares of the company closed up 8.3% to $0.325 on Thursday on the TSX Venture Exchange.